Abstract As China's economy continues to grow, the demand for machine tools within the country is expected to rise steadily. Industry experts predict that China's machine tool consumption will reach $38 billion in 2013. Schafer, the general manager of the German Machine Tool Manufacturers Association (VDW), recently spoke in Shanghai, highlighting the significant role China plays in the global machine tool market. He noted that China has become one of the top eight exporters of machine tools worldwide, with Europe emerging as a key market for its exports.
According to Schafer, China’s machine tool consumption is projected to increase by approximately 12% in 2013, reaching $38 billion. At present, the European market accounts for about 24% of China’s total machine tool exports, valued at around $600 million. This reflects the growing influence of Chinese manufacturers in international markets.
Over the past two decades, the global machine tool market has more than doubled in size, reaching approximately $86 billion in 2011. Since the start of the century, annual growth in machine tool consumption has averaged nearly 10% in U.S. dollars. Asia has been the primary driver of this expansion, with three-fifths of global machine tool production in 2011 directed toward the region.
Looking ahead, increased investment in large-scale infrastructure projects in 2013 is expected to fuel China’s economic growth. This includes developments in high-speed rail, urban transit systems, airports, and power grid upgrades. As China accelerates its industrial modernization, the demand for advanced and efficient manufacturing technologies is on the rise.
Schafer also emphasized that China’s machine tool purchases are set to continue their upward trend in 2013, with an anticipated increase of nearly 12%, reaching $38.1 billion. This growth is being driven across almost all sectors of industry, indicating strong and broad-based demand.
In addition, under the country’s broader macroeconomic planning, the Chinese machine tool market is expected to grow by 14.2% in 2014, reaching 389 billion yuan. This robust growth will further solidify China’s position as the world’s largest consumer and producer of machine tools.
The main markets for Chinese machine tools include industrial machinery and equipment, transportation, metal products, and electrical and electronic devices. Among these, industrial machinery has become the largest sector for machine tools due to its wide application across various industries. Meanwhile, the transportation equipment sector has maintained a strong position, largely due to the rapid development of China’s automotive industry over the past decade.
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